Micro pension is a unique initiative under which the pension sector joins hands with the development sector and the private sector to ensure that low-income workers save voluntarily and the money is safe. “Micro-pensions can play a key role in bridging India’s pension coverage gap in the Un-organized sector especially in Street Vendors”.
This scheme has provided a compounded annualized return of over 11.09 per cent since inception.
The Main Features of Micro-Pension-:
1) In this scheme 18 years to 55 years can participate.
2) In this scheme minimum Rs.100 and multiplied amount can be deposited monthly.
3) This Monthly installment will be collected by our Staff from Members by keeping with their precious time.
4) Each and every member of Scheme will receive 01 Passbook with no. along with UTI Folio No.
5) Every Member will receive Photo Passbook with complete detail of deposits.
6) In this scheme, provision of Nominee as compulsory to get benefits if undue incident happen during tenure.
7) For the membership of this Scheme, Bank Account is optional and not mandatory.
8) Easy Registration process.
9) Nominal Charges for issuing Photo Pass Book of Members.
10) No hidden cost involves.
11) No additional charge for withdrawal of Money after Maturity or Death.
12) Fixed Charge for closing the Scheme before 55 years of Age – Respective Member.
13) Getting good return from this scheme each member should contribute minimum Rs.1000/- Per year.
14) Easy Renewal Process without charging any fine by keeping prior information and notification through implementing agencies.
15) Flexibility of Scheme-Change Option once in the starting of each financial year (Month of April).
16) Option of Change in address with prior intimation with easy process.